JP Morgan cuts Suez, cites no near-term strategy update

AudeLagorce

LONDON (CBS.MW) -- J.P. Morgan downgraded French utilities group Suez
szefr:012052
to "neutral" from "overweight," primarily due to the broker's increased valuation for Electrabel. J.P. Morgan also said that after it releases its fiscal year results, "Suez will need to revamp its equity story." The broker added that its doesn't see any strategy update occurring in the next six months and that implementation thus remains more than a year away.

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